210 Main St New Iberia, LA 70563
- Drug stores
- 7,920 SF
- 0.45 lot acres
Current Use by Public Records
- The Bazus / Event Venue
Property Details for 210 Main St
- Year built
- 2001
- Lot size
- 0.45 lot acres
- Property size
- 7,920 SF
- Property type
- Drug stores
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a single-tenant, net-leased Dollar General store located at 210 N Main St, New Iberia, LA 70563. The 7,920 square foot building sits on a 0.45-acre lot and boasts a strong 9.00% cap rate, generating a net operating income (NOI) of $40,440. Built in 2001, the property features a corporate-guaranteed lease with a credit-rated tenant, ensuring financial stability. The current lease, commencing March 8, 2001, expires May 31, 2028, with 3.5 years remaining and two 5-year options, each including a 10% rent increase. The property benefits from its prime location on Main Street, a major thoroughfare, and enjoys strong retail synergy with nearby businesses. The average household income within a 10-mile radius is $76,540, aligning perfectly with Dollar General's target demographic. Landlord receives $1,300/month for CAM expenses. This is a rare chance to acquire a well-established, high-performing asset with a long-term, secure lease and significant upside potential. The tenant, Dollar General, possesses an investment-grade credit rating (BBB, S&P) and enjoys a substantial market capitalization of approximately $30 billion. This property offers a compelling combination of strong cash flow, low risk, and significant long-term growth prospects.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Iberia
- County
- Iberia Parish
- State
- Louisiana
- Longitude
- -91.737881384296
- Latitude
- 30.057889063359
